Kristalina Georgieva. File
The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009, but world economic output should recover in 2021, the International Monetary Fund said on Monday.
Multiple threats to the global economy topped the worries of the world’s well-heeled at the annual Davos think-fest on Monday, with some flagging the risk of a worldwide recession.
The pandemic sweeping the world will turn global economic growth “sharply negative” in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.
Governments around the world have spent $10 trillion in fiscal actions to respond to the novel coronavirus pandemic and its economic fallout, but significant further efforts are needed, the head of the International Monetary Fund said on Thursday.
Expanding its global footprint, Havells Partners with TeknoDome to roll out Lloyd’s range.
The CEO of Masdar said that Masdar has contributed significantly to achieving the country’s goals in the field of renewable energy and has played a pivotal role in diversifying the UAE’s portfolio of renewable energy..
The COP28 opened its doors to the public in Dubai as the off-plan super prime real estate sector in Dubai continues to grow from strength to strength with high interest and record sales prices being attained in new luxury projects.